registered oil prices82.17 dollars a barrel for the futures contracts for the international standard, Brent, at the settlement on Friday, and the US West Texas Intermediate crude futures recorded a dollar a barrel.
International media reports stated that oil prices in global markets fell, on Friday, as the dollar continued to rise, with bets that the US central bank plans to raise interest rates to reduce inflation, and the international benchmark Brent and West Texas Intermediate crude witnessed a decline for the third week in a row.
The OPEC + alliance had decided to continue implementing the decision to increase oil production by 400,000 barrels per day, starting from last August, and continuing until next December.
Oil prices received support from the global energy crisis, as the prices of Brent crude contracts rose in the futures markets to their highest levels since October 2018, to exceed the level of 84 dollars per barrel, and the prices of West Texas crude contracts rose to exceed their levels since the long-term markets of October 2014 $82 a barrel, according to the report “Signs of a looming global energy crisis” by OAPEC.
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